Currency exchange rates are affected by a number of factors. By investing in a currency with high interest rates, foreigners may make more money. Meanwhile, the Coronavirus epidemic has kept interest rates at record low levels. The pound is...
Forex trend envelopes are technical indicators that help traders identify the general market direction and potential reversal points. They work by plotting two bands above and below a moving average, creating a channel that envelopes price action....
In forex, a “pip” stands for “percentage in point” and represents the smallest price change most currency pairs can make. For major pairs, one pip is usually equal to 0.0001. When traders talk about 200 pips, they mean a price movement of...
How much time it takes to become a professional trader depends on a number of factors, including your prior experience, knowledge, and aptitude. However, most professional traders agree that it takes several years to develop the skills and discipline...
A 0.01 lot size in the context of forex trading offers several distinct advantages to traders, making it an appealing option, particularly for beginners or those with limited capital. Here are some key benefits:
In the world of forex, minor currency pairs, often referred to as "cross-currency pairs" or simply "minors," play a crucial role alongside major currency pairs. While major pairs involve the U.S. dollar (USD) as one of the currencies, minor pairs do...
The most common reversal pattern in technical analysis is the "head and shoulders" pattern. This pattern is formed when a price trend reaches a peak (the left shoulder), followed by a higher peak (the head), and then another lower peak (the right...
Trading patterns help traders identify potential entry points by providing a visual framework of how the price behaves under certain market conditions. These patterns form on charts as a result of repeated actions by buyers and sellers, creating...
The main purpose of using a grid trading strategy is to take advantage of price fluctuations in a market without needing to predict the exact direction of the trend. Instead of focusing solely on whether the price will rise or fall, grid trading...
One common mistake traders make when evaluating their trading performance is focusing solely on their profits or losses. While the bottom line is important, it's also important to analyze the strategy and decisions made during the trading process....